CHICAGO — The West Loop development boom is set to expand north.
On Tuesday, Chicago’s Committee on Zoning approved an ordinance lifting a ban on residential developments north of Lake Street in the Fulton Market District. The move will give the city a “shot in the arm” as it recovers from the coronavirus pandemic, said Ald. Walter Burnett Jr. (27th), who represents the area.
If approved by the full City Council Wednesday, the ordinance will allow residential development within the Kinzie Corridor Overlay District bound by Ogden Avenue, Carroll Avenue, Hubbard Street, Halsted and Wayman streets.
Residential construction had been long prohibited in the area because of concerns that development was encroaching on the “trucks and the blood and the smell” from industrial companies that once dominated the area.
But owners moved their industrial businesses elsewhere as the neighborhood changed, some becoming “millionaires overnight” by selling their properties, Burnett said. Over the last decade, residential and commercial projects have reshaped the area from a meatpacking center to a mixed-use area full of glamorous restaurants, high-rise offices and luxury shops.
New residential development north of Lake will provide a boost to the post-coronavirus economic recovery and keep development and tax dollars “flowing into the city,” Burnett said.
RELATED: Fulton Market Rush: Banned Until Now, Alderman Wants To Open Floodgates To Apartments And Condos
Under the new Fulton Market Innovation District framework, which seeks to guide the area towards a “mixed-use, mixed-income” neighborhood, developers must set aside 30 percent of new units for affordable housing. The updates were approved by the Plan Commission in February.
19-Story West Loop Condo Tower, 12-Story Near West Side Apartment Building Approved
Separately, plans for a 19-story condo building across from Mary Bartelme Park and a 12-story apartment building near Union Park also received approval in the committee. Both projects were approved by Chicago’s Plan Commission last week.
Burnett, who lives near Union Park and is a deacon at a nearby church, said the community is “very encouraged” by the 12-story apartment building, 140 N. Ashland Ave. It’s one of the largest developments west of Ashland in years, he said.
“I want everyone to know this is going to be the second West Loop, you all need to come over here and do some development. This is where it’s happening, west of Ashland,” he said.
Sitting steps from the Ashland ‘L’ stop, the $52 million, 210-unit project with first floor retail is being developed by Marquette Companies as a transit-oriented development and will include 32 units of affordable housing.
The $80 million, 258-foot building with 80 condos at 37 S. Sangamon St. is being developed by Fern Hill and Free Market Ventures just north of Bartelme Park. That project is in Ald. Byron Sigcho-Lopez’s 25th Ward.
The condos will be priced at $600-$700 per square foot, or roughly $1.3 million, according to Urbanize Chicago.
Sigcho-Lopez said he supports the project, which was deferred by the committee in 2018 and has been on ice since. The new plans are “more mindful of the density, the traffic, the congestion,” while providing a “fair share of community benefits,” he said.
The developers will not build affordable housing on-site, but will instead partner with the Pilsen Housing Cooperative to rehab a six unit co-op building at 1716 S. Morgan St. The developers will seek to build more off-site affordable units through under partnership with the cooperative, zoning attorney Richard Klawitter said.
Culver’s Could Be Coming To North Park After Getting Key City Approval
A Culver’s North Side outpost moved closer to reality after receiving support from city officials Tuesday.
The city’s Committee on Zoning approved plans for a Culver’s location at 6001 N. Lincoln Ave. The property is a vacant lot at a busy commercial corner of Peterson and Lincoln avenues and near several fast food restaurants, including Chipotle, Potbelly Sandwich Shop and McDonald’s.
5-Story Apartment Building Set To Replace Former Zia’s Restaurant
The Committee on Zoning also approved a 5-story apartment project that aims to replace the former Zia’s Lago restaurant at 3817 N. Ashland Ave. in Lakeview.
Mavrek Development aims to build 31 one-bedroom apartments, 13 two-bedroom apartments and four three-bedroom apartments at the site. The one-bedrooms would rent from $965- $1,800 a month; the two-bedrooms for $1,300-$2,800; and the three-bedrooms for $1,400-$3,300, developers siad.
Ten of the units, including one three-bedroom apartment, will qualify as affordable housing, which is more than double the number of affordable apartments required by the city’s Affordable Requirements Ordinance.
Ald. Matt Martin (47th) supports the project and praised the developer for their “willingness to consider community feedback around the need for more family-sized units.”
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